Officials: Legal Pot Could Generate $1.4B In Taxes
California tax officials have found that a state bill to tax and regulate marijuana like alcohol would generate nearly $1.4 billion in revenue.
A State Board of Equalization report released Wednesday estimates marijuana retail sales would bring $990 million from a $50-per-ounce fee and $392 million in sales taxes.
The bill introduced by San Francisco Democratic Assemblyman Tom Ammiano in February would allow adults to legally possess, grow and sell marijuana.
Ammiano has promoted the bill as a way to help bridge the state's $26.3 billion budget shortfall.
The state could not begin collecting taxes under the bill, as written, until the federal government legalizes marijuana.
A spokesman says Ammiano plans to amend the bill to remove that provision.
(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
Whoops, overlooked that last part...
2 comments:
Here in Scotland Tommy, there is desperation for weed. It is a long story to do with poor hashish. Thus the weed is sold wet (damp), characters buy it and dry it on their radiators, it looses whacks of weight in the process.
Thus we too are primed for legalisation - and tax revenue.
I have basic horticultural knowledge though.
cheers
ps your word verification is parroc
Seems like something I could learn to do, with time and patience. Better than blowing all my money on overpriced dirt weed from unknown sources. Sort of dangerous to do at this time IMO, but hopefully enough people will be behind the proven medicinal uses for it to be legalized soon. It's sort of unlikely, since they are trying to eliminate the competition through the "War on Drugs", even though pot isn't a drug.
Post a Comment